Newbury Street Ends Merger Agreement, Faces Liquidation Risk

Tip Ranks
2024.12.20 15:18
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Newbury Street Acquisition Corporation has terminated its merger agreement with Infinite Reality, Inc. A payment will be made to the purchaser by the target company. If Newbury Street cannot secure a new business combination by March 25, 2025, it will face liquidation. The company's year-to-date price performance is -3.01%, with an average trading volume of 555 and a market cap of $7.07 million. The consensus rating for NBST stock is 'Buy'.

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Newbury Street ( (NBST) ) has issued an announcement.

Newbury Street Acquisition Corporation has terminated its merger agreement with Infinite Reality, Inc., and a $7 million payment will be made to the purchaser by the target company. If Newbury Street is unable to secure a new business combination by March 25, 2025, it will proceed to liquidate the company.

More about Newbury Street

YTD Price Performance: -3.01%

Average Trading Volume: 555

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $51.07M

For a thorough assessment of NBST stock, go to TipRanks’ Stock Analysis page.

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